MetaEstate has successfully secured $1.1 million in funding.
Provider of metaverse services based in Singapore MetaEstate just finalized a funding agreement amounting to $1.1 million.
This funding initiative was primarily driven by Matrixport and SevenX Ventures, with involvement from Everest Ventures Group, Y+ Ventures, Cryptogram Venture (CGV), and several others. crypto investment companies.
As expressed by Jackey, co-founder of MetaEstate, virtual real estate holds significant value as a foundational element of Metaverse assets. The company aims to reduce barriers to entry, making it easier for newcomers to begin their journey in Web3. MetaEstate plans to introduce an innovative business model centered around the virtual real estate development sector. This initiative will allow landowners, creatives, entrepreneurs, and various users within the metaverse to enjoy a richer, more engaging, and multifaceted entertainment experience.
The company also plans to explore DAOs and labor organizations for virtual land trading in the future.
While still in its early stages, the Metaverse presents immense potential and is attracting an increasing number of participants. Lin Xiaohong, a partner at Continue Capital, notes that ownership of virtual properties is becoming a trendy pursuit among the younger demographic.
The statistics seem to bolster this trend. The virtual property market is not only significant but also steadily expanding. According to data from MetaMetric Solutions, sales of virtual real estate reached $500 million in 2021, with transactions accelerating after Facebook's rebranding towards the Metaverse. This year, MetaMetric Solutions anticipates profits will surpass $1 billion, while Brandessence Market Research forecasts a 31% annual growth rate from 2022 to 2028.
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